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Friday, March 5, 2021

Corporate Insolvency

IBC changes for starting proceedings against corporate debtor valid: SC

New Delhi, Jan 19 (IANS) The Supreme Court on Tuesday upheld the constitutional validity of amendments to the Insolvency and Bankruptcy Code (IBC) in 2020, under which a minimum of 100 or 10 per cent of allottees of a...

Govt proposes pre-packaged insolvency resolution framework under IBC

New Delhi, Jan 10 (IANS) The Ministry of Corporate Affairs has proposed a pre-packaged insolvency resolution framework under the Insolvency and Bankruptcy Code (IBC). The ministry has sought comments on the recommendations of sub-committee of the Insolvency Law Committee by...

SC to hear all pleas against IBC’s personal insolvency provisions

New Delhi, Oct 29 (IANS): The Supreme Court on Thursday ordered the transfer, to itself, of all petitions pending before various High Courts against the provisions of Insolvency and Bankruptcy Code (IBC) with regard to personal insolvency. A bench comprising Justices...

IBC still evolving, can be far more efficient: CEA

New Delhi, Oct 15 (IANS) Chief Economist Adviser (CEA) Krishnamurthy Subramanian said on Wednesday that the Insolvency and Bankruptcy Code (IBC) is an evolving process and there is scope for the framework to become more efficient. Speaking at a webinar...

Centre announced the suspension of fresh IBC proceedings till Dec

New Delhi, Sep 25 (IANS) In a major relief for stressed companies amid the pandemic woes, the Centre on Thursday announced the suspension of fresh insolvency proceedings under the Insolvency and Bankruptcy Code (IBC) by three more months till...

LS passes amendment in Insolvency and Bankruptcy Code

New Delhi, Sep 21 (IANS) The Lok Sabha on Monday passed the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2020, whereby fresh insolvency proceedings will not be initiated for at least six months starting from March 25 amid the...

Start insolvency process against debtor, guarantor together: FM

New Delhi, Sep 19 (IANS) Union Finance Minister Nirmala Sitharaman on Saturday said that insolvency proceedings against the corporate debtor and personal guarantor can be initiated together under the Insolvency and Bankruptcy Code and should be pursued simultaneously for...

Need to look at issues of operational creditors under IBC: Experts

New Delhi (IANS) As the Insolvency and Bankruptcy Code (IBC) has evolved over the past three and a half years, with several changes and improvements, operational creditors still largely feel sidelined or neglected when it comes to recovery of...

IBC adapted suitably to face Covid challenges: IBBI chief

New Delhi (IANS) The government has finely attuned the Insolvency and Bankruptcy Code (IBC) to meet challenges posed by the Covid-19 crisis, insolvency panel chief M.S. Sahoo said on Friday. "What was required was to have a well-calibrated middle path...

Tax deadline extended, ATM charges waived, insolvency norm relaxed

New Delhi, Mar 24 (PTI) The government on Tuesday extended the deadline for filing income tax and GST returns, raised threshold of default that could trigger insolvency of a company and waived charges on cash withdrawals from ATM of...

Latest News

Bond yields unleash bears, equity indices trade in red

Mumbai, March 5 (IANS) India's key equity indices traded in the red during Friday's mid-afternoon session on the back...